Buying a property in Britain will leave you poor when you're old

Britons are scrimping and saving to get on the property ladder —
after all, if you own your own house, then you won't be paying
off someone else's mortgage.

However, the latest data from the National Institute for Economic
and Social Research shows that if you own a house now, it's more
than likely you'll end up poorer than counterparts who don't
own their own home.

All-in-all, the NIESR told the FT that those who own a property
are less likely to save more towards their pensions or in another
savings account — a whole 15% less in pension income
than those who don't own their own home with a mortgage.

So basically, you will have the asset of a property but you'll
have less cash to tide you over when you retire. This could
be really bad news for a property owner because you just don't
know how much houses will be worth when that time comes.

At the moment, Britain has a severe housing shortage and there
are too many people looking to get on the ladder. The imbalance
between supply and demand is pushing up property prices by
an inordinate amount.